EUR/CAD – 1H – SELL

Moreover a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards

A descending movement down to the next support level at 1.6002 is expected.

Caution: A possible counter-trend in the direction of resistance at 1.60566 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.597975 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.60566 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Matching Low’ chart pattern is discovered. The chart shows ‘Matching Low’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

1.60566 – 1.60287 – 1.59535 – 1.6002 – 1.59055 – 1.59029 —
1.60241 – 1.60234 —
49.713526354932 – 51.509898153767 —
– —
1.60566 – 1778176800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Matching Low – Rising Wedge Chart Pattern – – – – – – – –